Global Economy
Swiss Re Bulks Up Reserves as Profit Declines
Swiss Re AG, the world's biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the industry remained under pressure. Net income dropped to $1.23 ...
National General Founder Michael Karfunkel Dies; He Also Launched AmTrust
National General Holdings Corp. said that founder, chairman and CEO Michael Karfunkel – who previously launched AmTrust Financial Services with his brother - has passed away. The New York-based ...
‘Airbnb for Cars’ Startup Raises $35M; Allianz Covers Participating Drivers
Drivy, a French startup that lets people hire out their cars in much the same way Airbnb runs a market for houses, said Thursday it raised 31 million euros ($35 million) to fund its continued ...
From the Web: More Companies Accentuate the Positive Instead of GAAP Results
Companies are increasingly accentuating the positive elements in their financial results, and trying to downplay the less flattering numbers. As the New York Times reports, regulators still require ...
Executives On The Move at W.R. Berkley and Kemper
Kemper Corp. hired an ex-ACE Group exec as its new chief information officer. W.R. Berkley Corp. brought on three former Chubb executives to flesh out its new high net worth personal lines division. ...
Ironshore Joins Rivals in Food Recall Product Contamination Insurance Space
An Ironshore division has started offering product contamination recall coverage focused on food and beverage industry-related risks. It won't be without competition. The company's Pembroke Managing ...
AXIS Net Income Plunges, but Reinsurance Results Improve
Net income plunged due to the declining value of its alternative investments, but AXIS Capital Holdings touted solid gains in its reinsurance and insurance segments alike during the 2016 first ...
Global Network for Bank Money Transfers Aware of Many Cyber Fraud Incidents
SWIFT, the global financial network that banks use to transfer billions of dollars every day, warned its customers on Monday that it was aware of "a number of recent cyber incidents" where attackers ...